Hong Kong Clothiers Reported Revenue of $5,000,000 for Its Year

question 9

Multiple Choice

Hong Kong Clothiers reported revenue of $5,000,000 for its year ended December 31, 2013. Accounts receivable at December 31, 2012 and 2013, were $320,000 and $355,000, respectively. Using the direct method for reporting cash flows from operating activities, Hong Kong Clothiers would report cash collected from customers of:

• A)$4,965,000.
• B)$5,000,000.
• C)$5,035,000.
• D)$5,045,000.

Apply cost estimation techniques to administrative expenses and utilities.

Understand and apply the high-low method to analyze cost behavior.

Understand and apply the least-squares regression method to analyze cost behavior.

Distinguish between variable, fixed, and mixed costs.

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Definitions:

Change Leaders

Individuals who drive and support the process of organizational change, focusing on goals, strategies, and team engagement.

Henry Mintzberg

A renowned management theorist known for his work on business strategy, organizational structures, and the roles of managers.

Informational Roles

Pertains to the duties of gathering, processing, and disseminating information that leaders and managers have within an organization.

Archie B. Carroll

A scholar known for his work on corporate social responsibility, particularly the pyramid model that categorizes different aspects of CSR.